UNION PACIFIC CORPORATION (NYSE:UNP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02(d) Election of Directors.
The Board of Directors (the Board) of Union Pacific Corporation (the Company), acting upon the recommendation of the Corporate Governance and Nominating Committee, elected William “Bill” J. DeLaney, age 62, to serve on the Board as a director of the Company, effective September 5, 2018. Mr. DeLaney retired as Chief Executive Officer from Sysco Corporation (Sysco), an international food marketing and distribution company, on December 31, 2017. The Board also appointed Mr. DeLaney to serve on the Audit Committee and the Compensation and Benefits Committee. All Company directors serve concurrently on the Board of Directors of the Company’s principal operating subsidiary, Union Pacific Railroad Company (the Railroad).
Mr. DeLaney joined Sysco in 1987.He served in various finance, management and leadership roles for over thirty years and was named its Chief Executive Officer in 2009.Mr. DeLaney is also a member of the Board of Directors of Sanmina Corporation and Express Scripts Holding Company.
The Board affirmatively determined that Mr. DeLaney has no material relationship with the Company or any of its consolidated subsidiaries, including the Railroad, (either directly or as a partner, shareholder or officer of an organization that has a relationship with the Company) and is independent within the meaning of the applicable listing standards of the New York Stock Exchange and the Director Independence Standards adopted by the Board.The Board also determined that Mr. DeLaney meets the additional independence standards applicable to members of the Compensation and Benefits Committee.Mr. DeLaney does not have a direct or indirect material interest in any related person transaction as defined under the Securities and Exchange Commission’s rule and the Company’s Related Party Policy.
The Company issued a press release regarding the election of Mr. DeLaney, which is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d)Exhibits.
99.1Press Release of Union Pacific Corporation, dated September 6, 2018.
UNION PACIFIC CORP ExhibitEX-99.1 2 unp-20180906xex99_1.htm EX-99.1 Ex 99.1 Exhibit 99.1 Union Pacific Elects William J. DeLaney to Board of Directors For Immediate Release Omaha,…To view the full exhibit click here
About UNION PACIFIC CORPORATION (NYSE:UNP)
Union Pacific Corporation operates through its principal operating company, Union Pacific Railroad Company. Union Pacific Railroad Company links approximately 20 states in the western two-thirds of the country by rail, providing link in the supply chain. The Company’s business mix includes agricultural products, automotive, chemicals, coal, industrial products and intermodal. The Company operates from West Coast and Gulf Coast ports to eastern gateways, connects with Canada’s rail systems and serves approximately six Mexico gateways. The Company is a Class I railroad operating in the United States. The Company’s network includes approximately 32,080 route miles, linking Pacific Coast and Gulf Coast ports with the Midwest and Eastern United States gateways and providing several corridors to Mexican gateways. The Company owns approximately 26,060 miles and operates on the remainder pursuant to trackage rights or leases.